Two Business Major Students, in Two Different Sections of Economics

question 69

Multiple Choice

Two business major students, in two different sections of economics, were comparing test scores. The following gives the students' scores, class mean, and standard deviation for each section. (i) The student from Section 2 scored better compared to the rest of their section.
(ii. The z-score of the student from section 1 is 1.82.
(iii) The z-score of the student from section 2 is 1.87.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) is a correct statement but not (ii) or (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (i) and (ii) are correct statements but not (iii).
• E) (ii) and (iii) are correct statements but not (i).

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Definitions:

Nash Equilibrium

A concept in game theory where no player can benefit by changing their strategy while the other players keep theirs unchanged, leading to a situation of mutual best response.

Simultaneous Game

A game theory model where players make decisions or choose strategies at the same time, without knowledge of the others' choices.

Nash Equilibrium

A concept in game theory where each player's strategy is optimal, given the strategies of other players, leading to a situation where no player has anything to gain by changing only their own strategy.

Payoffs

The outcomes or returns from a particular strategy or action, often analyzed in game theory and economics.